ZOUK: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
ZOUK
Largest movements
- Receivables within one year +€487,237
up €487,237 (+31.2%), from €1.6m to €2.1m
of which Trade receivables: +€469,977
- Cash -€87,024
down €87,024 (-31.5%), from €276,194 to €189,170
mainly Receivables within one year (-€487,237) and Advances received (-€20,714)
- Reserves +€320,521
up €320,521 (+17.8%), from €1.8m to €2.1m
of which Distributable reserves: +€320,521
- Trade debts +€98,767
up €98,767 (+150%), from €65,875 to €164,642
- Gross operating margin +€207,221
up €207,221 (+196%), from €105,835 to €313,056
- Depreciation -€9,751
down €9,751 (-38.3%), from €25,464 to €15,713
- Financial income -€9,541
down €9,541 (-27.1%), from €35,149 to €25,609
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Derived cash bridge
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,922,215 | €2,310,641 | +€388,427 | +20.2% |
| Fixed assets | 21/28 | €58,013 | €43,800 | -€14,213 | -24.5% |
| Intangible fixed assets | 21 | €51,956 | €40,856 | -€11,100 | -21.4% |
| Tangible fixed assets | 22/27 | €4,857 | €1,744 | -€3,113 | -64.1% |
| Plant, machinery and equipment | 23 | €2,023 | €1,583 | -€440 | -21.8% |
| Furniture and vehicles | 24 | €2,834 | €161 | -€2,673 | -94.3% |
| Financial fixed assets | 28 | €1,200 | €1,200 | = | 0.0% |
| Current assets | 29/58 | €1,864,202 | €2,266,842 | +€402,640 | +21.6% |
| Amounts receivable within one year | 40/41 | €1,563,049 | €2,050,285 | +€487,237 | +31.2% |
| Trade receivables | 40 | €502,537 | €972,514 | +€469,977 | +93.5% |
| Other amounts receivable | 41 | €1,060,512 | €1,077,772 | +€17,260 | +1.6% |
| Cash at bank and in hand | 54/58 | €276,194 | €189,170 | -€87,024 | -31.5% |
| Deferred charges and accrued income | 490/1 | €24,959 | €27,386 | +€2,427 | +9.7% |
| Total equity and liabilities | 10/49 | €1,922,215 | €2,310,641 | +€388,427 | +20.2% |
| Equity | 10/15 | €1,820,648 | €2,141,169 | +€320,521 | +17.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,802,048 | €2,122,569 | +€320,521 | +17.8% |
| Tax-exempt reserves | 132 | €1,137 | €1,137 | = | 0.0% |
| Distributable reserves | 133 | €1,800,911 | €2,121,432 | +€320,521 | +17.8% |
| Amounts payable | 17/49 | €101,567 | €169,473 | +€67,906 | +66.9% |
| Amounts payable within one year | 42/48 | €101,567 | €169,473 | +€67,906 | +66.9% |
| Current portion of amounts payable after more than one year | 42 | €10,000 | - | -€10,000 | |
| Trade debts | 44 | €65,875 | €164,642 | +€98,767 | +150% |
| Suppliers | 440/4 | €65,875 | €164,642 | +€98,767 | +150% |
| Advances received on contracts in progress | 46 | €20,714 | - | -€20,714 | |
| Taxes, remuneration and social security | 45 | €4,978 | €4,831 | -€147 | -3.0% |
| Taxes | 450/3 | €4,978 | €4,831 | -€147 | -3.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,464 | €15,713 | -€9,751 | -38.3% |
| Other operating charges | 640/8 | €1,592 | €1,590 | -€2 | -0.1% |
| Gross operating margin | 9900 | €105,835 | €313,056 | +€207,221 | +196% |
| Operating profit (loss) | 9901 | €78,779 | €295,752 | +€216,974 | +275% |
| Financial income | 75/76B | €35,149 | €25,609 | -€9,541 | -27.1% |
| Recurring financial income | 75 | €35,149 | €25,609 | -€9,541 | -27.1% |
| Financial charges | 65/66B | €2,104 | €251 | -€1,853 | -88.1% |
| Recurring financial charges | 65 | €2,104 | €251 | -€1,853 | -88.1% |
| Profit (loss) for the period before taxes | 9903 | €111,824 | €321,110 | +€209,286 | +187% |
| Income taxes | 67/77 | €601 | €589 | -€12 | -2.1% |
| Profit (loss) for the period | 9904 | €111,223 | €320,521 | +€209,299 | +188% |
| Profit (loss) for the period to be appropriated | 9905 | €111,223 | €320,521 | +€209,299 | +188% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 16 October 2026 via checked.be.